Condition of Premises. Improvements shall be constructed in the Premises in accordance with this Paragraph 5. Except as otherwise expressly provided in this Paragraph 5, Tenant shall accept the Premises in their as-is condition and Landlord shall have no obligation to make or to pay for any improvements or renovations in or to the Premises.
The Basic Lease Terms are attached hereto as [Exhibit A].
Modification of Premises. Effective as of the date (the Substitute Premises Commencement Date) which is the later to occur of # May 1, 2015, or # the date the Substitute Premises are Ready for Occupancy as that term is defined in the Tenant Work Letter attached hereto as [Exhibit B] (Tenant Work Letter), # subject to the terms of Section 3, below, the Lease shall terminate and be of no further force or effect with respect to the Original Premises, and # Tenant shall lease from Landlord and Landlord shall lease to Tenant the Substitute Premises on the terms and conditions set forth in the Lease, as hereby amended. Consequently, effective upon the Substitute Premises Commencement Date, the Substitute Premises shall be substituted for the Original Premises and all references in the Lease, as hereby amended, to the Premises shall mean and refer to the Substitute Premises.
Substitute Premises Term. Landlord and Tenant acknowledge that the Lease Term is scheduled to expire on December 15, 2016, pursuant to the terms of the Lease. Notwithstanding anything to the contrary set forth in the Lease, the Lease Term is hereby extended and shall expire on the last day of the thirty-sixth (36th) month after the Substitute Premises Commencement Date (the Lease Expiration Date). The period of time beginning on the Substitute Premises Commencement Date and ending on the Lease Expiration Date shall be referred to herein as the Substitute Premises Term.
Relocation of Premises. Effective as of the date of Substantial Completion of the Improvements (as those terms are defined in Exhibit "C" attached hereto) therein ("Effective Date"), the Existing Premises shall be relocated to that certain space containing approximately 20,460 rentable square feet located on the first (1st) and second (2nd) floors of the building located at 6645 185th Avenue NE, Redmond, Washington (the "New Building"), as outlined on the floor plans attached to this Third Amendment as Exhibit "A" and incorporated herein by this reference (the "New Premises"). The Effective Date is anticipated, but not guaranteed, to occur on or about July 8, 2015 and Landlord shall use commercially reasonable efforts to achieve Substantial Completion of the Improvements on or before such date. The New Building is located upon the real property described in Exhibit "B" attached hereto.
Definition of Premises and Rentable Area of Premises. Commencing on the Expansion Premises Commencement Date, the defined terms Premises and Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:
This Lease shall take effect upon the Execution Date and, except as specifically otherwise provided within this Lease, each of the provisions hereof shall be binding upon and inure to the benefit of Landlord and Tenant from the date of execution and delivery hereof by all parties hereto. The parties acknowledge and agree that the Premises shall be delivered to Tenant for the commencement and performance of the Tenant’s Improvements upon at least ten (10) business days written notice from Tenant to Landlord requesting delivery of the Premises (such date of delivery shall be referred to as the “Delivery Date”); provided, that Tenant shall not be liable for the cost of utilities supplied to the Premises prior to the Delivery Date.
Condition of the Premises. The Tenant agrees that the Premises, including any fixtures, appliances, and personal property described in this Lease or listed on the Schedules as part of the Premises, is in satisfactory operating and sanitary condition. Notwithstanding the foregoing, the Tenant shall complete the list of exceptions provided by the Landlord within five days of the Tenant’s occupancy, unless such time is extended pursuant to any applicable law or regulation.
Current Premises Minimum Rent. For the avoidance of doubt, nothing in this Third Addendum shall be construed to amend or modify [[Organization B:Organization]]'s Minimum Rent obligations set forth in Article 3 of the Lease for the current Premises comprising approximately 50.148 rentable square feet as set forth in the table below:
Notwithstanding any provision of the Lease to the contrary, effective as of 11:59 PM (Eastern) on March 31, 2023 (the “Reduction Date”), the Demised Premises shall be reduced to exclude # the Original Premises, containing approximately 14,636 square feet of space, and # the Licensed Premises (collectively, the “Reduction Premises”) and Tenant shall vacate same on the Reduction Date in accordance herewith. Effective as of the Reduction Date, neither Tenant nor anyone claiming by, through, or under Tenant shall have any further rights with respect to the Reduction Premises. In connection with the foregoing, effective as of the Reduction Date: # the term of the Lease shall expire with respect to the Original Premises (except for those obligations of Tenant that expressly survive the expiration or earlier termination of the Lease (collectively, the “Surviving Obligations”), # the Storage License shall automatically terminate and be of no further force and effect (except for those obligations of Tenant that expressly survive the expiration or earlier termination of the Storage License), and # the Demised Premises shall be deemed to include only the Expansion Premises, containing approximately 5,531 rentable square feet of space, and all references in the Lease to “Premises” shall be deemed to mean the Expansion Premises unless the context requires otherwise. Notwithstanding anything to the contrary contained herein, Tenant shall continue to have access to an IT closet and associated IT equipment located in Suite [[Unknown Identifier]] in the Reduction Premises until no later than May 31, 2023 to allow Tenant to relocate such IT equipment to the Expansion Premises.
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